What are the duties of an estate agent in Singapore?
In Singapore, the Estate Agents Act establishes certain rules regulating estate agent duties and property transactions.
By way of the regulations, property agents, also known as estate agents, are no longer allowed to represent both seller/landlord and buyer/tenant for the same property transaction. They may only represent one side of transaction, to avoid a conflict of interest.
Additionally, estate agents are duty-bound to avoid any other potential conflicts of interest (such as if a party to the transaction is related to the agent) unless the client’s waiver is obtained.
The regulations also prohibit estate agents from referring their clients to moneylenders, to discourage irresponsible buying. Agents are also prohibited from holding or handling money on behalf of any party in relation to the sale or purchase of any property situated in Singapore, and the lease of HDB property.
Not Sure What To Do Next?
Get a 20-minute phone call with a lawyer for only $59
Estate agents are obliged to display their licence card, and clients have a right to demand to see them.
All estate agents have to pass a professional examination to obtain an estate agent license in Singapore. Furthermore, they are also obliged to undertake mandatory continuing professional development, prescribed by the Council for Estate Agencies. As of 2012, there are over 30,000 estate agents in Singapore.
If you have a legitimate grievance against your estate agent, you should lodge a complaint with either the agent’s firm, or the Council for Estate Agencies, Singapore’s regulatory body overseeing estate agency matters.
- Property Title Deeds: How to Amend & Do You Need a Copy?
- The Conveyancing Process in Singapore
- Types of property and home ownership in Singapore
- Option to Purchase: 6 Things to Know Before Exercising It
- Common Terms in Sale & Purchase Agreements
- Why and How to Lodge a Caveat on a Property in Singapore
- Joint ownership in Singapore and unequal contributions to purchase price
- Buying Property in Singapore: How to Pay for Your Property
- Buying Property on "As Is Where Is" Basis: What This Means
- Buying a Property on Trust for Your Child
- What if the seller does not turn up for the First Appointment?
- What are the duties of an estate agent in Singapore?
- HDB Resale Process: Selling Your HDB Flat Without an Agent
- Property Auction: Buying a House in Distressed Sales & More
- What is Wear and Tear? Are Landlords or Tenants Liable For It?
- Being Evicted in Singapore: What Happens and Next Steps
- Guide to Letters of Intent for Property Rentals in Singapore
- Tenant-Landlord Rights in Singapore
- 6 Common Terms in Tenancy Agreements & What They Mean
- What If I Have a Tenancy Dispute or Complaint in Singapore?
- Getting a Mortgage Redemption in Singapore
- Landlord Won’t Return Your Security Deposit: What to Do
- Landlord’s Guide to Evicting a Problematic Tenant in Singapore
- Applying for a Writ of Distress When a Singapore Tenant Owes You Rent
- Are Landlords, Tenants, and Agents Liable for Sex Trade in HDB flats/Condominiums?
- Dispute With Your Condo’s Management or MCST: What to Do
- Is Airbnb Illegal in Singapore?
- How to Obtain an Exclusion Order Against a Neighbour in Singapore
- Resolving Disputes with a Neighbour from Hell in Singapore
- Ceiling Leaks: What Can I Do?
- What can I do if a Chinese funeral or a Malay wedding creates a noisy annoyance in the void deck?
- What is the Tort of Interference with Land? What is the rule in Rylands v Fletcher?